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Well, I'm certainly glad that I'm on more than 20 acres, 1/2 hour away from the city. My wife and I both have our own home offices, she's been working from home for more than a month and I'm laid-off until this thin calms down. In the meantime, I'm going to keep an eye out for something I can do from home as well.
Well, I'm certainly glad that I'm on more than 20 acres, 1/2 hour away from the city. My wife and I both have our own home offices, she's been working from home for more than a month and I'm laid-off until this thin calms down. In the meantime, I'm going to keep an eye out for something I can do from home as well.
If I were you I'd be having fun shooting at trees all day, lol.
If anything I think the open concept might fade. It might be nice it one has to keep an eye on toddlers or seniors but long periods of time 'together' might finally put the nail in that coffin. Also the fact that many now realize how expensive things are either by not paying for their old life style and/or having to buy tp by the ton priorities will drift way from the hgtv factor. Clean,simple and maintained.
In way they already have 'space' in many big cities with unused office space which could start getting converted to residential. More loft style living.
Right now too many just want to get back. Also keep in there has been too much money taken off the market. I think will see a temporary spike from a backlogue of planned sales or buys but after that the market drops. Also mortgage lenders realizing the months without payments by millions of people might lead to something like higher down payment requirements which is more money off the market.
Of course, my reply was about social distancing. As long as family members aren't infected, the size of one's house or yard doesn't matter in terms of social distancing, even if it is beneficial in other respects.
I think it's those other respects that are going to have a greater effect in the decision. You don't "need" a larger home to socially distance but I don't know anyone complaining about lockdowns because they are too close to others in their house but because they are bored and cooped up in their house. A bigger house makes you feel less confined. If in the future people become more home-based (i.e. home entertainment or work for home) they are going to want more room. They are going to want a dedicated remote-work area or office. They are going to want a rec room.
I think it's those other respects that are going to have a greater effect in the decision. You don't "need" a larger home to socially distance but I don't know anyone complaining about lockdowns because they are too close to others in their house but because they are bored and cooped up in their house. A bigger house makes you feel less confined. If in the future people become more home-based (i.e. home entertainment or work for home) they are going to want more room. They are going to want a dedicated remote-work area or office. They are going to want a rec room.
I disagree. I think people will go for smaller more affordable homes so that they can weather the next pandemic. It is the lack of savings that is causing stress for many people. A smaller, more affordable home means more savings which means less stress for the next time.
I disagree. I think people will go for smaller more affordable homes so that they can weather the next pandemic. It is the lack of savings that is causing stress for many people. A smaller, more affordable home means more savings which means less stress for the next time.
It's the bigger suburban homes that are more "affordable" in many cases. I couldn't have a 1200sqft one bedroom condo "inside the loop" for what I'm paying for my 2200sqft 3BR house.
Social distancing will obvously create the need for more real estate, more space, not less. Expect prices to go up ?
Absolutely not. Just the opposite. People without jobs or decreased income don't buy houses. Flippers do, tho. At depressed prices. There will be a bottom feeding frenzy by the flippers and wealthy.
Exception: Pricey houses, since the wealthy don't experience recessions to the same degree as the middle and working classes, if at all. As a famous President once said, "I love recessions! I can buy stuff for cheap!"
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